Every year, taxpayers find themselves in a situation where they simply can’t pay the amount they owe on April 15. If that happens to you, consider each of the following tips to make sure you don’t accidentally put yourself in an even worse position.
If the IRS sends you a tax bill instead of a refund check don’t panic, there are several ways to manage this and it does not have to be a nightmare for your personal finances. You just have to manage it like any other part of your finances. Taxpayers have several options. Consider the following: Full story
You made the tax deadline, but your tax debt may still linger on. Well, at least you filed and avoided the most hefty penalty for failure-to-file. You might be scrambling to figure out how you’ll be able to pay what you owe after receiving your final tax bill from the IRS. There are options available to you if you are unable to pay and many are quite reasonable. We’ll go through some of the best options if you can’t pay.
Are you behind on your taxes but still looking for a tax break? Sound too good to be true? Actually, you just might be the perfect candidate for the Internal Revenue Service Fresh Start Initiative. In recognition of the challenging times many people continue to face due to the lackluster economic recovery, the Fresh Start Initiative (FSI) provides some people with a little breathing room.
It’s neither easy nor fun to owe money to someone you can’t quickly pay back. … Full story
Now that the dust has settled, tax day behind us, do you owe the IRS more than you have available to send them? Let’s look at the ways you might consider, starting with the easiest. Full story